The Right to Buy scheme allows most council tenants to buy their council home at a discount. If you are thinking about buying your council home, the first thing to do is to use the government right to buy checker to confirm your entitlement.
From 06 April 2017 the maximum Right to Buy discount in London is £104,900. The discount is for applications that are received on or after 6 April 2017. For applications made before 6 April 2017 the previous Right to Buy maximum discount for London of £103,900 is applicable.
Check how much your home is likely to cost before applying using the right to buy calculator.
Some types of home are excluded from the scheme, including adapted homes and sheltered housing.
If you want to apply for your Right to buy then you need to follow the process below.
1. Complete your application
If you think you are eligible, apply to us now by completing:
Once you have completed and signed the forms, we will want to see all the applicants joining the right to buy in person with a valid form of photographic identity:
- drivers licence
Scanned or emailed copies of an application or identity are not acceptable.
Please call us to make an appointment. We can only see you if you have booked in with us.
Telephone: 020 7527 7715
2. We will assess your application
This can take up to 28 days. You will be notified by post of the decision to either admit or deny your application.
3. Valuation of your home
Once your application to purchase your home has been accepted, the property must then be valued. We will arrange for the property to be surveyed by the council’s Valuation Department. They will phone or write to you with an appointment time and date.
4. Landlord’s Offer
We will issue you with your Landlord’s Offer (Section 125) Notice. This will give you the valuation and the purchase price after taking off the discount. This is a very important document and you should read it very carefully and seek advice if you are not clear about any of the contents. You have 12 weeks to accept the Offer.
5. Offer acceptance
If you accept the Offer we will get floor plans drawn up and then your application will be passed to our Legal Services Department with instructions to proceed with the sale. You will need to appoint a solicitor or conveyancer to deal with the legal aspects of your purchase. You should organise the funding or mortgage arrangements and also get an independent survey from a qualified surveyor if you’ve not done so already.
At this stage our Legal Services Department will draft the necessary legal documents which will then be forwarded to your solicitor for approval. Once the documentation is approved and mortgage arrangements are in place, your solicitors will agree a completion date with our legal department.
Responsibilities to consider
Becoming a home owner is usually the biggest financial decision people make in their life. The discount available under the Right to Buy means that lots of tenants are thinking about buying their home.
It is important you consider the financial implications and other responsibilities you would have as a home owner before you decide if buying your home is the right choice for you.
Beware of people offering help
There are companies and individuals that offer tenants money to apply to buy the home on their behalf. You must not enter into this type of deal. Some tenants have ended up homeless through this. If you enter into this type of agreement, you will have to repay the discount. Any money that you make is unlikely to be enough to buy another home, and we will not provide you with another tenancy.